Dec, 31, 2023 — GENERATIONS COMMUNITY FEDERAL CREDIT UNION is a federal credit union headquartered in CASTLE HILLS, TX with 6 branch locations and about $755.94 million in total assets. Opened 84 years ago in 1940, GENERATIONS COMMUNITY FEDERAL CREDIT UNION has about 47,153 members and employs 190 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | GENERATIONS COMMUNITY FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1100 NW Loop 410 CASTLE HILLS, TX 78213 |
| Phone: | (210) 229-1800 |
| Fax: | |
| Website: | https://www.mygenfcu.org |
| Branches: | 6 branch locations |
| Members: | 47,153 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 4015 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1940 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $755,937,938 |
| CEO/Manager: | Kenneth Raymie |
| Chairperson: | Larry Reed |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 27,575,676 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 156,000 |
| Real Estate Loans | 294,335,348 |
| Unsecured Loans | 79,313,582 |
| Other Loans | 166,775,691 |
| TOTAL LOANS | 553,893,815 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -3,958,637 |
| Land And Building | 37,237,448 |
| Other Fixed Assets | 3,314,418 |
| NCUSIF Deposit | 5,192,550 |
| All Other Assets | 36,995 |
| TOTAL ASSETS | 755,937,938 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 255,208 |
| Notes & Interest Payable | 64,202,225 |
| Accounts Payable & Other Liabilities | 12,312,184 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 131,486,268 |
| Regular shares | 181,853,291 |
| All Other Shares & Deposits | 310,264,827 |
| TOTAL SHARES & DEPOSITS | 623,604,387 |
| TOTAL LIABILITIES | 700,374,004 |
| Regular Reserve | 0 |
| Other Reserves | -13,413,695 |
| Undivided Earnings | 68,977,629 |
| TOTAL EQUITY | 55,563,934 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 755,937,938 |
| INCOME & EXPENSE | |
| Loan Income | 29,469,900 |
| Investment Income | 7,141,544 |
| Other Income | 6,700,269 |
| Total Employee Compensation & Benefits | 17,556,574 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 18,502,617 |
| Non-operating Income & (Expense) | 1,701,597 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 4,538,352 |
| Cost of Funds | 12,409,291 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 4,747,212 |
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